Invisalign manufacturer Align Technology reported $890.3 million in total revenue for the third quarter of 2022.
The company released its third quarter financial results in an Oct. 26 news release.
Seven notes on the company's third quarter results:
1. The company's third quarter revenue was down 8.2 percent from the second quarter and down 12.4 percent from this time last year.
2. Clear aligner revenue brought the company $732.8 million, an 8.2 percent decrease from last quarter and 12.5 percent decrease year-over-year.
3. Clear aligner volume was also down 3.6 percent from the second quarter and down 11.9 percent from the second quarter of last year.
4. Total third quarter revenues from imaging systems and CAD/CAM services were $157.5 million, down 8 percent from the second quarter and down 11.7 percent from last year.
5. The company's third quarter operating income was $143.7 million and net income was $72.7 million.
6. As of Sept. 30, Align Technology has more than $1.1 billion in cash, cash equivalents and short-term and long-term marketable securities, compared to $977.2 million as of June 30.
7. Align Technology also has $450 million left for repurchase of its common stock. It expects to repurchase another $200 million of its common stock during this year's fourth quarter.